AI Market in 'Dynamic' Growth Phase, but 'Maturity Curve' Looms, Says Report
The artificial intelligence market is entering a "dynamic" growth phase, fueled by the enterprise sector, and is expected to generate $8.1 billion revenue this year, growing to $105.8 billion by 2025, said a Monday Tractica report. But deep learning technology…
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fueling the AI revolution "might be hitting a bottleneck," said the research firm. Facebook's data privacy issues, AI safety, questions about Uber’s self-driving car fatality, and the power of generative algorithms to create fake images and video are among the challenges that hit AI this year, and are the type "to be expected as we move from a hype phase into a reality phase as part of the cycle of market development,” said analyst Aditya Kaul. Tractica forecasts a "maturity curve" for AI, with the next few years bringing a "sobering of expectations, while the momentum around use cases and applications continues to build.”